Allspring Global Investments Holdings LLC Cuts Stock Holdings in Deckers Outdoor Co. (NYSE:DECK)

Allspring Global Investments Holdings LLC reduced its stake in shares of Deckers Outdoor Co. (NYSE:DECK) by 40.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,635 shares of the textile maker’s stock after selling 34,963 shares during the period. Allspring Global Investments Holdings LLC owned 0.20% of Deckers Outdoor worth $34,514,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. HighTower Advisors LLC lifted its holdings in Deckers Outdoor by 13.7% in the first quarter. HighTower Advisors LLC now owns 3,294 shares of the textile maker’s stock valued at $902,000 after acquiring an additional 398 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in Deckers Outdoor by 7.1% in the first quarter. Great West Life Assurance Co. Can now owns 15,156 shares of the textile maker’s stock valued at $4,272,000 after acquiring an additional 1,001 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in Deckers Outdoor in the first quarter valued at approximately $882,000. Sei Investments Co. lifted its holdings in Deckers Outdoor by 53.1% in the first quarter. Sei Investments Co. now owns 35,845 shares of the textile maker’s stock valued at $9,811,000 after acquiring an additional 12,439 shares during the last quarter. Finally, Aviva PLC lifted its holdings in Deckers Outdoor by 24.9% in the first quarter. Aviva PLC now owns 8,020 shares of the textile maker’s stock valued at $2,196,000 after acquiring an additional 1,597 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Deckers Outdoor

In related news, CEO David Powers sold 5,993 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $922.85, for a total value of $5,530,640.05. Following the transaction, the chief executive officer now owns 98,218 shares of the company’s stock, valued at $90,640,481.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Deckers Outdoor news, Director Lauri M. Shanahan sold 3,672 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $832.22, for a total transaction of $3,055,911.84. Following the transaction, the director now owns 4,515 shares of the company’s stock, valued at $3,757,473.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David Powers sold 5,993 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $922.85, for a total value of $5,530,640.05. Following the transaction, the chief executive officer now directly owns 98,218 shares in the company, valued at approximately $90,640,481.30. The disclosure for this sale can be found here. Insiders have sold 42,449 shares of company stock valued at $34,172,388 over the last quarter. 0.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on DECK. KeyCorp initiated coverage on Deckers Outdoor in a report on Wednesday, February 7th. They issued an “overweight” rating and a $960.00 price objective on the stock. Truist Financial restated a “hold” rating and set a $864.00 price target (down from $983.00) on shares of Deckers Outdoor in a research note on Wednesday. Evercore ISI initiated coverage on Deckers Outdoor in a research note on Thursday, February 15th. They set an “outperform” rating and a $960.00 price target on the stock. Telsey Advisory Group restated an “outperform” rating and set a $930.00 price target on shares of Deckers Outdoor in a research note on Thursday, February 15th. Finally, Raymond James upped their price target on Deckers Outdoor from $585.00 to $845.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $870.93.

Deckers Outdoor Price Performance

NYSE:DECK opened at $814.65 on Friday. The firm has a market capitalization of $20.91 billion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. The business’s fifty day moving average price is $887.43 and its 200 day moving average price is $724.80. Deckers Outdoor Co. has a 12 month low of $424.36 and a 12 month high of $956.17.

Deckers Outdoor (NYSE:DECK) last posted its earnings results on Thursday, February 1st. The textile maker reported $15.11 EPS for the quarter, beating the consensus estimate of $11.40 by $3.71. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.45 billion. Deckers Outdoor had a return on equity of 38.77% and a net margin of 17.57%. Deckers Outdoor’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.48 earnings per share. As a group, equities analysts anticipate that Deckers Outdoor Co. will post 26.87 EPS for the current year.

Deckers Outdoor Profile

Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities in the United States and internationally. The company offers premium footwear, apparel, and accessories under the UGG brand name; footwear and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.